A possible ascending wedge formation out of this upwards correcting against the recent downward prevailing trend.
Thought i'd start posting some of the longer term positions i'll be holding throughout the recovery of this current covid-19 induced economic downturn.
As I prospect for more positions to take coming out of this crisis, (and i'm not suggesting/claiming we've bottomed out yet) I'm drawn towards AUD pairs, predicated on the fact; Australia seems to be handling the spread of cases quite effectively, and if this trend is to continue, the economy may enter the other side of this trough with strength, thus an appreciation of the currency is expected. (Given this happens, again this is not financial advice and you should still do your own due diligence before making any investment decisions or allocating any capital).
Please leave a like if you're on a similar wavelength, otherwise feel free to comment any ideas that suggest the possibility of alternate price movements!
(ALL FEEDBACK IS APPRECIATED)
Have a fantastic weekend of analysis traders!
Thought i'd start posting some of the longer term positions i'll be holding throughout the recovery of this current covid-19 induced economic downturn.
As I prospect for more positions to take coming out of this crisis, (and i'm not suggesting/claiming we've bottomed out yet) I'm drawn towards AUD pairs, predicated on the fact; Australia seems to be handling the spread of cases quite effectively, and if this trend is to continue, the economy may enter the other side of this trough with strength, thus an appreciation of the currency is expected. (Given this happens, again this is not financial advice and you should still do your own due diligence before making any investment decisions or allocating any capital).
Please leave a like if you're on a similar wavelength, otherwise feel free to comment any ideas that suggest the possibility of alternate price movements!
(ALL FEEDBACK IS APPRECIATED)
Have a fantastic weekend of analysis traders!